The IHS Markit Vietnam Manufacturing PMI jumped to 42.7 in May 2020 from a record low of 32.7 a month earlier, amid the success Vietnam has had in bringing the COVID-19 outbreak under control. Output, new orders, and employment all decreased at rates unseen prior to the current crisis, while there were particular reports of difficulties in securing new export orders. Manufacturers also continued to scale back their purchasing activity and inventories of both purchases and finished goods, though in each case to lesser extents than in April. Meanwhile, vendor delivery time lengthened markedly. Regarding prices, input costs fell for the second straight month, particularly due to lower oil prices; and selling prices were also cut to attract new business. Finally, confidence was still the second-lowest since available records began in April 2012 amid concerns that the impacts of the pandemic will linger.
Manufacturing PMI in Vietnam averaged 51.21 points from 2012 until 2020, reaching an all time high of 56.50 points in November of 2018 and a record low of 32.70 points in April of 2020. This page provides the latest reported value for - Vietnam Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Vietnam Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Markit Economics
Manufacturing PMI in Vietnam is expected to be 46.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Vietnam to stand at 52.00 in 12 months time. In the long-term, the Vietnam Manufacturing PMI is projected to trend around 50.90 points in 2021 and 50.10 points in 2022, according to our econometric models.